Author: Press Room
The Supreme Court unanimously rejected a lawsuit on Thursday challenging the Food and Drug Administration’s approach to regulating the abortion pill mifepristone, allowing the drug to stay on the market. The court ruled that the doctors and anti-abortion groups that had challenged access to the drug did not have standing to sue. Though technical, the court’s reasoning is important because it might encourage other mifepristone challenges in the future. Medication abortion accounts for nearly two-thirds of all US abortions, according to some estimates. The FDA approved mifepristone in 2000 as part of a two-drug regimen to end a pregnancy, and it has been…
A new study published in the New York Times demonstrates some startling findings about loss of ability to make money decisions in older people. The study approaches the issue by looking at debt accumulation and reduced credit scores in elders long before being diagnosed with Alzheimer’s disease or related dementias. The team of economists and medical experts looked the combination of Medicare records and data from the credit bureau, Equifax. Their research was comprehensive, extensive and credible. They found that people fall behind in paying their normal debts like mortgages and credit card bills as much as five years before…
Mortgage rates are down for the second straight week, but still remain stubbornly high for many would-be buyers. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.95% this week from 6.99% last week. The average rate on a 30-year loan was 6.69% a year ago. The average rate on the 15-year fixed mortgage also decreased to 6.17% from 6.29% last week. One year ago, the rate on the 15-year fixed note averaged 6.10%. Read the full article here
The Consumer Financial Protection Bureau (CFPB) will apply credit card rules to Buy Now, Pay Later (BNPL) products. As a result, BNPL lenders must follow the federal Truth in Lending Act (TILA) and Regulation Z rules that apply to credit cards, according to a CFPB statement. That means consumers will be afforded some critical legal protections and rights that apply to conventional credit cards. These include a right to dispute charges and demand a refund from the lender after returning a product purchased through a BNPL service. A CFPB report released in 2022 found that more than 13% of BNPL transactions…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3-year loans and lower for 5-year loans when compared to fixed-rate loans for the seven days before. For borrowers with credit scores of 720 or higher who used the Credible marketplace to…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks little changed: Markets were mixed to lower Thursday following a rally to new record highs Wednesday. Treasury yields dipped after yet another inflation data point — May’s producer price index — that was cooler than expected. But the relationship between falling yields and rising stocks isn’t working to the same degree as previous sessions, although a good 30-year auction at 1 p.m. ET helped the market bounce. However, gains were…
Netflix is trying to get ready for some football.The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter. Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.This is Netflix’s first real foray into traditional live sports, driven by the company’s ambitions to grow its advertising tier. The company inked a deal earlier this year with…
President Joe Biden has nominated Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corporation. The announcement comes after current FDIC Chair Martin Gruenberg said he intended to resign once a successor is confirmed by the Senate following a scathing independent investigation detailing pervasive sexual harassment, discrimination and bullying at the agency charged with regulating the banking sector. Goldsmith Romero, a Democrat, served as special inspector general for the Troubled Asset Relief Program at the Treasury Department that was borne out of the Great Recession. In that role, she was responsible for overseeing efforts to crack down on banks’…
At the start of the year, I believed that shares of Oshkosh Corporation (NYSE:OSK) were looking good into 2024. The company enjoyed solid operating momentum, allowing shares to surpass the $100 mark, with the fundamentals looking good into 2024, backed up by a growing backlog. In the first half of the year, shares have gradually risen, although they have recently seen a setback again, now trading flattish since the start of the year. All this happened as Oshkosh has seen operating momentum continue, as it delivered on a convincing hike in the 2024 guidance, making me gradually appealed to the…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A 10-year challenge to find ways to combat the growing scourge of antibiotic resistant “superbugs” has yielded a new generation of diagnostic tests that offer rapid identification of infections.The £8mn Longitude Prize was awarded on Wednesday to Sysmex Astrego, a Swedish company whose method cuts the analysis time for urinary tract infection patient samples from two or three days to less than an hour.The prize is a response to the increasing threat posed by antimicrobial resistance (AMR), or the evolution of pathogens…
